10 Idlewild Park · Watervliet, NY 12189

$259,999

6 bd · 2.0 ba · 2,056 sqft · MultiFamily public records · 3 Days on market

Built 1914 3,484 sqft lot $126/sqft · 35% below area Est $397k · 35% under

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Why this score? — see what drove the B+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +29.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• Rent growth +4.2/5.0
• Livability +4.2/5.0
• Schools +3.4/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

This 2 unit residential home could be a'' turnkey investment'' or owner occupied with month to month leases. It's well maintained, with some fresh updates such as roof. utilities, and more featuring 2 bedrooms 1 bathroom in each unit, laundry hook ups, fenced-in yard that's landscaped, and rear parking area approximately a block from Broadway / Rt 32 near restaurants and shopping

Key facts

• Bonus back room
• Fenced back yard
• Off street parking

Tags

• RECENTLY UPDATED
• BONUS BACK ROOM
• FENCED BACK YARD
• OFF STREET PARKING
• EASY ACCESS TO MAJOR HIGHWAYS

Property features AI

Finance

• Financial info: Two-unit property (duplex)

Exterior

• Utilities: Public water; Public sewer
• Home design: Duplex; Flat rubber roof; Aluminum siding and brick exterior
• Construction: Aluminum siding; Brick construction; Flat rubber roof; Full unfinished basement (foundation present)
• Exterior features: Front porch; Back yard fencing; Level, cleared lot

Interior

• Kitchen: Solid surface counters
• Bedrooms: Unit 1: 3 bedrooms (one or more bedrooms on main or upper level as specified by unit); Unit 2: 3 bedrooms
• Bathrooms: 2 full bathrooms total; One full bath on the 1st level; One full bath on the 2nd level; Each unit includes 1 full bath
• Heating & cooling: Baseboard heating; Hot water heating; Natural gas heating
• Interior features: Solid surface countertops; Wood-burning fireplace in the living room; Full, unfinished basement
• Laundry & utility: Washer hookup; Gas dryer hookup; Laundry available on main and upper levels; Other laundry provisions

🏷️ Possibly a rental listed for sale. The $259,999 price doesn't fit this home's estimated sale value (~$397,019) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $260k.

Deal economics

• At list price, monthly cash flow is $888 ($11k/yr) — positive. Per door: $444/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $260k).
• Cap rate 10.4% vs local median 5.9% in Watervliet — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 84/100 on livability (#51 in NY, #786 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, housing A+, health & safety A+; Watch: crime D+, schools D.
• Watervliet City School District (suburban): math 36% / reading 45% proficiency, ranked #524 of 590 in NY (top 89%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.6%/yr); 72 active listings in the ZIP; 675 units permitted in Albany County in 2024 (451 in 5+ unit buildings).
• At $3,365/mo this rent would consume 62% of the median local household income ($65k/yr) (locally 1224% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Albany County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 6.6% rent growth), your $73k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $259,999

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1914 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.29% ✓
• Cap rate: 10.39%
• Cash-on-cash: 14.64%
• DSCR: 1.65
• GRM: 6.4

CMA / ARV

• ARV (median comp): $397,019
• List price: $259,999
• Delta: -34.51%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13 Idlewild Park	0.02mi	6/2.0	2,016 (-2%)	21mo	$279,900	$139	78
217 6th Ave	0.20mi	6/2.5	2,084 (+1%)	13mo	$260,000	$125	75
436 7th Ave	0.38mi	6/2.0	2,096 (+2%)	8mo	$216,000	$103	73
229 6th Ave	0.22mi	6/2.0	1,940 (-6%)	21mo	$280,000	$144	63
720 4th Ave	0.67mi	6/2.0	2,092 (+2%)	13mo	$180,000	$86	55
15 7th St	0.67mi	6/2.0	2,000 (-3%)	14mo	$285,000	$143	53
201 Broadway	0.32mi	5/2.0 (-1)	1,776 (-14%)	12mo	$265,000	$149	47
612 7th St	0.59mi	6/2.0	2,316 (+13%)	8mo	$225,000	$97	45
815 Twenty 4th St	0.72mi	6/2.0	2,200 (+7%)	20mo	$210,000	$95	37
820 5th Ave	0.75mi	5/2.0 (-1)	2,174 (+6%)	20mo	$185,000	$85	34
312 7th St	0.61mi	6/2.0	2,304 (+12%)	23mo	$302,000	$131	32

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 6.61% rent growth · sell at horizon

5-year hold

• IRR: 9.1%
• Equity multiple: 1.37×
• Total profit: $27,129
• Equity at exit: $38,767

10-year hold

• IRR: 21.1%
• Equity multiple: 3.10×
• Total profit: $152,578
• Equity at exit: $22,480

Cash invested: $72,800 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 15 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City: — inherits STATE

NYC rent stabilization (~1M units); 2019 HSTPA strengthened tenant rights; courts deeply backlogged.

Methodology + full state rankings →

ZIP-level market 12189

• Home prices YoY: -28.7%
• Rents YoY: 6.6%
• Active inventory: 72
• Price-to-rent: 12.9×

Monthly cashflow live

• Estimated rent: $3,365 high
• Mortgage (P&I): −$1,363
• Tax from tax record: −$298 /mo · $3,582/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$707
• Net cashflow: $888

Break-even live

Break-even rent $2,241

Max offer price $259,999

Occupancy floor 69%

Sensitivity live

Price	-10% $1,035	-5% $962	+0% $888	+5% $814	+10% $741
Rent	-10% $622	-5% $755	+0% $888	+5% $1,021	+10% $1,154
Rate	-1.0pp $1,019	-0.5pp $954	base $888	+0.5pp $821	+1.0pp $752

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,366
Total (2 units)			$3,365

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-05-05
   status Pending 724-char remark
2. 2026-05-01
   listed $259,999 Active 724-char remark
3. 2022-11-28
   status Pending 382-char remark

   Show marketing remark (382 chars)

   This 2 unit residential home could be a'' turnkey investment'' or owner occupied with month to month leases. It's well maintained, with some fresh updates such as roof. utilities, and more featuring 2 bedrooms 1 bathroom in each unit, laundry hook ups, fenced-in yard that's landscaped, and rear parking area approximately a block from Broadway / Rt 32 near restaurants and shopping

4. 2022-11-15
   listed $199,500 Active 382-char remark

   Show marketing remark (382 chars)

   This 2 unit residential home could be a'' turnkey investment'' or owner occupied with month to month leases. It's well maintained, with some fresh updates such as roof. utilities, and more featuring 2 bedrooms 1 bathroom in each unit, laundry hook ups, fenced-in yard that's landscaped, and rear parking area approximately a block from Broadway / Rt 32 near restaurants and shopping

5. 2022-08-31
   historical
6. 2022-08-02
   status Pending
7. 2022-07-12
   price $199,000
8. 2022-06-22
   status Active
9. 2022-06-14
   historical Contingent
10. 2022-05-31
    listed $205,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $3,582 · $298/mo
• Projected year-2 tax: $3,988 · $332/mo
• Expected delta: +$406/yr (+$34/mo · 11.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 4/10 Moderate 7 d/yr ≥96°F today · 17 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $40,380
• − Mortgage interest: −$14,564
• − Property taxes: −$3,582
• − Insurance: −$1,300
• − Repairs & maintenance: −$3,230
• − Management: −$3,230
• − Depreciation: −$7,564
• Taxable income: $6,910
• Est. tax owed @ 24.0%: −$1,658
• After-tax cash flow: $8,998/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Watervliet City School District
• NCES district ID: 3630210
• Math proficiency: 36% ▼ -2.00%
• Reading proficiency: 45% ▬ 0.00%
• Median HH income: $43,276
• Composite: 34.23/100
• National rank: #5261
• State rank: #524 of 590 in NY

Livability — Watervliet

• Score: 84/100
• State rank: #51
• US rank: #786

Category grades

Amenities A+ Commute A Cost of living B+ Crime D+ Employment C Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Albany County · 196,626 people
• City population: 18,656
• Metro: Albany-Schenectady-Troy, NY
• Population (ZIP): 18,656
• Household income: $65,276
• Rent vs Own: 60.3% rent · 39.7% own
• Severe rent burden: 1224.0

Population outlook (Albany County) Hauer SSP2

• Today (2025): 320,794 people
• By 2030: 327,401 · +2.1%
• By 2040: 338,218 · +5.4%
• By 2050: 348,467 · +8.6%
• By 2075: 381,693 · +19.0%
• By 2100: 393,809 · +22.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Two or more races 8% Asian 8% Black 8% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Dominican 1%
• Common ancestry: Lithuanian 6% Romanian 5% Scotch-Irish 4%
• Foreign-born: 11% · Canada, China, South Korea
• Languages at home: 88% English-only · Other Indo-European 4% Spanish 2% Other Asian/Pacific 2%

Political lean MEDSL · Albany

• 2024 margin: Strong D (+25.8) · D 62.9% · R 37.1%
• 2008→2024 swing: -3.6pp toward R · 2008: 29.4pp · 2024: 25.8pp
• All cycles: 2024: D+25.8 2020: D+31.4 2016: D+24.3 2012: D+31.0 2008: D+29.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -110.16%
• Current HPI: 273.8109
• Rent YoY: ▲ 6.61%
• Metro: Albany-Schenectady-Troy, NY
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

+26.8% since first listed

10 events — show timeline

• 2026-05-05 Pending — Global MLS
• 2026-05-01 Listed $259,999 Global MLS
• 2022-11-28 Pending — Global MLS
• 2022-11-15 Listed $199,500 Global MLS
• 2022-08-31 Listing Removed — Global MLS
• 2022-08-02 Pending — Global MLS
• 2022-07-12 Price Changed $199,000 Global MLS
• 2022-06-22 Relisted — Global MLS
• 2022-06-14 Contingent — Global MLS
• 2022-05-31 Listed $205,000 Global MLS

Property tax history

+0.5%/yr

Latest (2025): $3,582 · -9.9% YoY. Source: county tax records.